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Can you summarize 44 AZRS Chapter 3?
Trade and Commerce > REVISED ARIZONA UNCLAIMED PROPERTY ACTSec: 44-301-44-340
Short Summary
The Revised Arizona Unclaimed Property Act governs the handling, reporting, and recovery of unclaimed property in the state of Arizona. It applies to individuals, business associations, financial organizations, estates, trusts, governments, governmental subdivisions, agencies, instrumentalities, and any other legal or commercial entities. The Act defines various terms to ensure clarity and consistency in its application. It specifies exemptions for certain types of property. The Act outlines the requirements for filing reports, the examination of records, and the public sale of abandoned property. It also establishes procedures for claiming property, abating penalties and interest, and entering into agreements with other states. The Act provides guidelines for the payment or delivery of abandoned property and the confidentiality of information related to unclaimed property administration. Overall, the Revised Arizona Unclaimed Property Act aims to ensure the proper handling and recovery of unclaimed property in the state.
Whom does it apply to?
Individuals, business associations, financial organizations, estates, trusts, governments, governmental subdivisions, agencies, instrumentalities, and any other legal or commercial entities
What does it govern?
Handling, reporting, and recovery of unclaimed property
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Arizona